PIA suffering loss of 5.6 billion every month

Pakistan International Airlines (PIA), the national airline of Pakistan suffering the losses of 5.6 billion rupees every month. There is no end in the sight to the financial bleeding of PIA. It has also accumulated the liabilities to 300 billion rupees. PIA spend 4.4 billion on payment of loans and mark up every month. It spend 2.6 billion on fuel and 1.6 billion on salaries.

The accumulated liabilities include bank loans of 186 billion, civil aviation dues and charges of 40 billion, Pakistan State Oil owe 13.5 billion and FBR 4.5 billion. PIA has accumulated this amount in last two decades. Due to the falling earnings and increased losses, the airline has not been able to pay its liabilities.

The PIA management gave all these details to the Senate Committee. The committee showed its concern when its was revealed that no member of the PIA board has the qualification or the experince of aviation sector. These members have the experince of different businesses and belongs to the corporate sector but none ever worked in the aviation sector.

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